Ericsson Revenue Manager monetizing new business models
Following on from my colleague's blog post last week about the way in which digital connectivity is enabling new business models for 5G, I want to talk about the challenges of making that happen in the business support systems (BSS).
5G business model requirements for BSS
Monetizing new business models requires enabling partners to create new offerings, some of which are aimed at everyone and others of which may be very focused. This means that the BSS systems need to be able to bill both users and partners, but also they need to be flexible enough to incorporate whatever business model a partner needs. Fortunately, Ericsson Revenue Manager has been designed from scratch to be able to support not only new technologies but new ways of doing business.
At Mobile World Congress 2018, we demonstrated Ericsson Revenue Manager monetizing new business models by showing a car rental scenario. In this case, the telecom operator is charging in real time for both time and distance for the rental car company but is also bringing in additional partners relevant to the driver's experience, such as parking fees, store promotions, online purchases, and even paying road tolls.
Real-time demonstration video on monetization
Watch this demo video of Joanne Wakim driving a car around city streets while Ericsson Revenue Manager handles these complex charges and promotions in real time.
This flexibility is built into Ericsson Revenue Manager. Supporting these sorts of complex relationships will become more and more important to monetize the new business models enabled by 5G.
The technical challenges include rapid incorporation of new charging parameters, real-time processing of location-based charges and promotions, exposure of interfaces (APIs) to digital partners in a secure and flexible manner, and incorporation of insights generated from analytics.
Want to learn how Ericsson Revenue Manager has the flexibility to address these challenges?Contact us